The contract has a firm duration of one year, and the estimated contract value is approximately $72 million, including the mobilization fee. The assignment is for drilling operations in the Southeast Asia region.
West Ariel is under construction at Keppel FELS shipyard in Singapore. Commencement of operations is expected to take place in the second quarter of 2008. This rig is the fifth and final jack-up delivered in the current program to Seadrill from its existing shipyard commitments.
